The Association of Southeast Asian Nations (ASEAN) finance ministers and central bank governors used the ASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM), held virtually from 7 to 11 April 2026 under the Philippines’ chairmanship, to reaffirm commitments to regional financial stability and deeper financial cooperation amid heightened geopolitical uncertainty, financial market volatility, and rapid technological change. They highlighted the importance of sound macroeconomic policies, strengthened policy coordination, and vigilance against external risks. The meeting welcomed progress under the ASEAN financial cooperation work program and flagged payments connectivity, capital market development, and financial health as priorities. On cross-border payments, ministers and governors welcomed Project Nexus and existing bilateral and multilateral linkages, while emphasizing further work on interoperability, regulatory alignment, data governance, consumer protection, and responsible innovation in digital finance, including the safe and trustworthy use of artificial intelligence and emerging technologies. Sustainable finance discussions reaffirmed commitments to mobilize private capital and strengthen climate risk management, and an ASEAN+3 deputies meeting with China (with Hong Kong), Japan and Korea covered enhanced regional resilience measures including financial safety net and bond market initiatives.
ASEAN 2026-04-14
Association of Southeast Asian Nations finance ministers and central bank governors reaffirm regional financial cooperation with focus on cross-border payments connectivity
The Association of Southeast Asian Nations finance ministers and central bank governors, meeting virtually under the Philippines’ chairmanship, reaffirmed commitments to regional financial stability and deeper cooperation amid geopolitical uncertainty, market volatility, and rapid technological change. They highlighted progress in the ASEAN financial cooperation work program and prioritised payments connectivity, capital market development, sustainable finance, and responsible digital finance, including artificial intelligence. An ASEAN+3 deputies meeting with China (with Hong Kong), Japan and Korea discussed enhanced regional resilience measures, including financial safety net and bond market initiatives.